The Young Millionaires Program is once again in full swing on Prince Edward Island. Aspiring young entrepreneurs recently received new funding to get 148 businesses up and running for the summer.

“Canada’s New Government is working with young entrepreneurs on Prince Edward Island to help them achieve success,” said the Honourable Peter MacKay, Minister of Foreign Affairs and Minister of the Atlantic Canada Opportunities Agency (ACOA). “We are proud to invest nearly $43,000 in this project. We understand how important it is for these young entrepreneurs to learn essential skills that will enable them to establish innovative businesses.

The Young Millionaires Program provides the opportunity for Island youth between the ages of eight and 15 to start their own businesses by supplying them with seed money. Aspiring entrepreneurs will attend various workshops to learn about the fundamentals of operating a business. The program is entering its sixteenth year.

“The Young Millionaires Program has a proven track record and I am pleased we are able to support it again this year,” said the Honourable Richard Brown, Prince Edward Island’s Minister of Development and Technology. “This program continues to help Island youth who are thinking of entering the business world by giving them tangible experience. As the old saying goes, you learn by doing.” PEI Business Development provided $10,000 to this year’s program.

The Central Development Corporation administers the Young Millionaires Program in conjunction with Active Communities Inc., Resources West Inc., La Société de Développement de la Baie Acadienne and this year, for the first time, PEI Business Development Inc.

“This program gives our youth a chance to see, first hand, the business opportunities that exist here on the Island,” said Norman Gallant, Chairman of the Central Development Corporation. “What an exciting way for them to learn about what their futures can hold.”

This year a total of 148 businesses were accepted into the program, providing hands-on-training to approximately 210 young people across the Island. Their products and services will be available at a number of venues throughout the summer.

FOR BROADCAST USE: The Young Millionaires Program is once again in full swing on Prince Edward Island. Aspiring young entrepreneurs recently received almost $60,000 in funding to get 148 businesses started, helping approximately 210 youth across the Island. Their products and services can be found at a number of venues throughout the summer. This is the 16th year for the successful Young Millionaires Program, which is administered through the Central Development Corporation, and funded by Canada’s New Government, through ACOA, and PEI Business Development.

For more information contact:
Shane MacDougall
General Manager
Central Development Corporation
902- 887-3400

Jennifer MacDonald
ACOA PEI and Tourism
902-566-8340

Ron Crozier
Communications Manager
Department of Development and Technology
(902) 620-3552

Additional Information:

Young Millionaires products and services will be available at a number of venues throughout the summer including;

• the Alberton Exhibition on August 3rd • the O'Leary Exhibition on July 28th • various Charlottetown locations throughout the summer • the Magasin General Store in Wellington • Gateway Village every Friday from 10am-3pm • Emerald Junction Summerfest on July 28th from 1-4pm • the Kensington Sidewalk Sale in late August • Various flea markets and farmers markets across the Island.